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Bitcoin Plunging Below $5000 Mark, What Does This Mean To The Investors?

Bitcoin Is Taxable, BTC Is an Asset not a Currency – Israeli’s Court Rules to Favour Tax Authority


Bitcoin Plunging Below $5000 Mark, What Does This Mean To The Investors?

Bitcoin (BTC) assuredly stands as pacemaker in the mist of all alternative coins in the crypto space, with its ability to encourage big businesses of the world to drift into cryptocurrency trade with enormous investments that could convince more investors. However, the crypto big gun, Bitcoin (BTC) and other cryptocurrencies have been experiencing a deep declination compared to the surge that saw Bitcoin approaching $5300 mark a couple of days ago.

At the time of writing, Bitcoin (BTC) price is $5,094, a lot below the price it maintained a couple of days ago, nothing is more disappointing than a short-lived joy, but all hope is not lost as this will serve as reference point for investors to predict market price future in order to invest wisely.

The Drastic Drop in Price of Ethereum (ETH)

Ethereum (ETH) has not shown any sign of improvement so far, as it remains the most disappointing coin in the cryptocurrency market. As at last year December, Etheruem’s (ETH) price was $1500, but subsequently faced a drastic declination as it experienced a 90 percent price drop to $164 mark at press time.

The Price Decline Is Not Limited To Bitcoin (BTC)

The predicted Bull Run in crypto market has obviously not happened, as the digital currencies’ surge in the market remain unstable daily.

Also Read: Latest: TRON (TRX) Set To Officially Collaborate With Ethereum (ETH)

Analysts, including market experts continue to predict bullish run for cryptocurrencies, but we are yet to see the day light. Nevertheless, investors, especially those who are oldbies continue to stake their assets in digital currencies with expectation for better days.

Reasons Crypto Investors Should Remain Optimistic

Forbes reported that Bobby Lee, the co-founder of BTC China, said he does not sanction any other cases in blockchain Technology except Bitcoin (BTC), this is clearly good for other cryptocurrencies as the surge in price of Bitcoin corresponds to the rise of other crypto coins.

Also Read: Bitcoin (BTC) Price Prediction for Week 15/16/17/18: A Rally Past $5800 Visible For April 29, 2019

However, some world business strongholds are still unshaken by the present state of the market, while some industry observers remain pessimistic. Brian Kelly, an industry influencer does not expect the approval of ETF this year, while a crypto analyst in CNBC previously predicted February 2019 as the month SEC will approve crypto-supported ETF.

In conclusion, it is certain that no condition is permanent in this world; the same is applicable to the price fluctuation of Bitcoin (BTC) in the cryptocurrency market. It is believed that the market is liable to change rapidly and unpredictably with time. As Bitcoin (BTC) price is presently a bit above $5000 mark, there is tendency that it could surge far beyond it present market price, which will be the best news for investors as every hour in the crypto space is always a big deal.

Jack, the Jack-of-all-trades, is a full-time contributor to TODAY'S GAZETTE. Jack jumped into writing through a friend and now doing excellently. Through the years, he has contributed his voice in covering current events and political issues.

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